China Longyuan Power Group (916) investor relations material

Executive summary

• Operating revenue for H1 2026 was RMB14,642 million, down 6.5% year-over-year, mainly due to lower wind power generation and tariffs, partially offset by growth in solar power revenue.

• Net profit attributable to equity holders was RMB2,527 million, a 28.2% decrease year-over-year, reflecting weaker wind resources, increased power rationing, and inflexible fixed costs.

• Basic EPS was RMB0.30, down from RMB0.42 in H1 2025.

• Total consolidated installed capacity reached 46,392 MW, with wind power at 32,488 MW and solar power at 13,897 MW; 397 MW new capacity added (341 MW wind, 56 MW solar).

• Net assets per share increased to RMB9.18 from RMB8.91 at end-2025.

Financial highlights

• Profit before tax fell 25.1% to RMB3,858 million; net profit dropped 29.1% to RMB2,958 million.

• Operating profit declined 19.7% to RMB5,406 million.

• Depreciation and amortisation expenses rose 9.3% to RMB6,799 million due to new project conversions.

• Personnel costs decreased 28.7% to RMB1,518 million due to remuneration adjustments; repair and maintenance expenses dropped 22% to RMB250 million.

• Net finance expenses decreased 6.4% to RMB1,585 million, reflecting lower foreign exchange losses and improved debt structure.

• Net cash inflow from operating activities was RMB8,132 million, up RMB1,459 million year-over-year due to increased renewable energy subsidies.

Outlook and guidance

• The company will focus on safety, risk prevention, and compliance, aiming to improve quality and efficiency in H2 2026, while expanding new growth drivers and accelerating innovation and digital transformation.

• No interim dividend was proposed for H1 2026.